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TAJBank Deploys NQR Solution To Ease Customers’ Transactions

TAJBank, Nigeria’s most innovative non-interest bank, has announced the deployment of the NQR Payment solution, an indigenous Quick Response Code by NIBSS, for merchants and customers as the newest addition to its innovative e-business channels. The NQR Payment solution is a secure QR-code-based payments and collections platform developed for merchants and customers to receive and […]

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USSD Debt: Stakeholders Set Six-Point Settlement Agenda, New Pricing Regime

Key Federal Government agencies and top players in the nation’s telecommunications sector on Monday ended their meeting with a six-point measure to forestall future indebtedness and disruption of Unstructured Supplementary Service Data (USSD) services channel to bank customers nationwide. USSD is a critical channel for delivering financial services, particularly for the underserved and/or financially excluded. […]

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N42Bn Debt: FG Urges Telcos To Sustain USSD To Banks, Parleys Firms

The Federal Government at the weekend appealed to telecommunication operators in the country to discontinue their planned suspension of Unstructured Supplementary Service Data (USSD) services to banks over the lenders’ N42 billion indebtedness. The Minister of Communications and Digital Economy, Isa Pantami, who made the appeal on Saturday in statement issued by his Technical Assistant […]

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FG Suspends Grants To Youths, Opt For Loans

The Minister of Youth and Sports Development, Mr. Sunday Dare, has disclosed that the Federal Government has stopped giving grants to youths but rather has now opted for revolving loans to aid their entrepreneurial and creative ventures. The minister gave this hint at the end of a 2-Day workshop titled ‘Challenges and opportunities for rural […]

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FCMB Launches Paperless, Cardless Transaction Services For Customers

Customers of First City Monument Bank (FCMB) can now seamlessly carry out transactions with just their fingerprints and Bank Verification Numbers (BVNs). A statement by the bank indicated that the cardless transaction services are available in the bank’s over 200 branches in nationwide. With the lender’s latest technology, customers no longer require deposit slips, withdrawal […]

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CBN Incentivizes Diaspora Remittance Recipients With N5/$ Bonus

The Central Bank of Nigeria (CBN) has introduced a new incentive to encourage inflow of Diaspora remittances into Nigeria. The incentive, tagged “Naira 4 Dollar Scheme”, was announced in a circular signed by the apex bank’s Director, Trade and Exchange Department, Mallam Saleh Jibrin, at the weekend According to the circular, the scheme, which would […]

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AfDB Grants $320,000 For Gender Mainstreaming In ECOWAS’ Digital Financial Services

The Board of Directors of the African Development Bank (AfDB) has awarded a grant of $320, 535 to the West African Monetary Agency (WAMA) to mainstream gender in ECOWAS’ core digital financial services (DFS) regulatory frameworks. A news report by the African Press Organisation (APO) Group on the funding intervention indicated that the fund would […]

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Osinbajo Canvasses Regulation, Not Prohibition Of Cryptocurrencies

In what seems to be call for the moderation of the Central Bank of Nigeria’s (CBN’s) policy stance on the raging cryptocurrencies’ controversies in the country, the Vice President, Prof. Yemi Osinbajo, on Friday canvassed the regulation of cryptocurrencies rather than outright outlawing the digital currency in the country. Osinbanjo, in his speech at the […]

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Again, CBN Justifies Stance On Prohibition Of Cryptocurrencies In Nigeria

The Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, on Tuesday stoutly justified its monetary’ policy forbidding crypocurrencies transactions in Nigeria, saying trading in the virtual assets is illegal and has no place in Nigeria’s monetary system. Emefiele, who re-affirmed the apex bank’s policy stance against the virtual currencies when he appeared before […]

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Virtual Assets, Cryptocurrencies Risky For Nigeria – ICPC Boss

The Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Prof. Bolaji Owasanoye has lent his voice against cryptocurrencies and virtual assets transactions in Nigeria, describing them as risky for the country. Owasanoye expressed this view before the Senate Committee on Banking, Insurance and Other Financial Institutions during its hearing on the […]